Alt Coins trading

After the sudden rise of bitcoin price in 2013, a lot of cryptocurrencies have been announced. During the first months of their trading in exchanges they often offer profits that can multiply the original capital many times, without any leverage. A recent example is DarkCoin as you can see on the picture. The most promising alt coins are those with a strong community, an active development team and innovative features. New coins are usually announced here and then are traded in various exchanges: Poloniex, Bittrex, YoBit and others. I started this thread to discuss the trading philosophy and any opportunities in this new field.

The entry strategy is simple - get in early! This is going to be more about finding the quickest way to acquire. Since the trading is going to be new you just don't have the historical data to do much analysis.

The exit...? Now that's more within the realm of this forum.

Have a look at slope, volume and the new coin's position within the market.

What I'd prefer to do is try to find a way to short. This would have to be done manually... I can't never get my head round that though - how does this work? I think you have to find someone to lend you the coins right? -in exchange you give them say, dollars. Sounds sketchy.

Hi, I'm wondering if anyone can recommend some specific exchanges to start using bitcoin? I'm new to the game so to speak and am not really technically minded, so any suggestions would be welcome as there seem endless options! Thanks

Looking forward to when we can actually speculate on these rather than having to physically buy them.

These things are too new and volatile for brokers to mess with them though. Oanda are quoting BTC/USD prices but nothing more. Yet. . .

I have some Dogecoins and a few Satoshi's worth of Bitcoin but I'm looking to actually spend them rather than trade them.

Popular exchanges at the moment appear to be Cryptsy and Bter (amongst a few others) but after the Mt. Gox thing a few months back I'd urge caution and not deposit too much of your hard earned with them yet.

So.. is anyone here?! In the last week i looked at exchanges etc myself, and liked kraken, hitbtc and bitstamp as their layout was simpler and people have written a lot about them. Can anyone give me tips to help me choose now? i haven't parted with any cash as yet as there must be pros and cons to these places and i wanted an inside scoop, so to speak! ANy help much appreciated!

Factom is a promising coin as it introduces an unalterable record-keeping system by creating a data layer on top of the Bitcoin blockchain. Organizations can document their information on Factom assuring they can't be modified, deleted or backdated. Its current price is 0.00265 BTC.

Alts have had a pretty decent week so far though while BTC has faltered. This isn't uncommon though, people trade their BTC into alts to try catch a lift then they cash out back into BTC. I expect the same thing will happen again once BTC dips lower.

Today I wrote in the Telegram: ZRX broke above previous major high. I believe in Correction. The progress of wave A was quickly nulled. Actually, as you see in hindsight, it was a clear manipulation: FOMO wave has extremely size of volume. Extremely high volume on up-bars = hidden weakness. SLKT above the #FOMO waves – additional Trap of smaller scale (intraday size) So, the current trading range is developing in the format of the #distribution stage. That is why I do believe, #ZRX #cryptocurrency has negative sentiments {image}

Ignored

I was expecting zrx to be less susceptible to manipulation than the centralized tokens but I'm always a bit skeptical of ERC20. Also, I think a number of their relayers died out (ERC-DEX for example).

If you like my post :P throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8

Today I wrote in the Telegram: ZRX broke above previous major high. I believe in Correction. The progress of wave A was quickly nulled. Actually, as you see in hindsight, it was a clear manipulation: FOMO wave has extremely size of volume. Extremely high volume on up-bars = hidden weakness. SLKT above the #FOMO waves – additional Trap of smaller scale (intraday size) So, the current trading range is developing in the format of the #distribution stage. That is why I do believe, #ZRX #cryptocurrency has negative sentiments {image}

Ignored

I'd be careful using telegram and dealing with cryptos, this goes for everyone out there!:

The wide green up-bar (the third from right edge) was a test or fresh minor zone of Weakness after the second SLKB.

Studying the volume/price action on fast TF chart (right side) confirms the Supply on slow TF has activated. This Supply comes from old High (line A). So, the down-move toward center-line B (dotted line) should be a reliable expectation.

Since that time this crypto did advance from 0.21 up to 0.34. And it continues to climb higher.

Attached Image (click to enlarge)

Actually, I became skeptic about the continuation of rally when price penetrated the previous high 0.2666 (1). It did look very close to fake-breakout. The penetration (2) of previous high (1) with ND+SB sequences (Supply Bar after No-Demand bar) had also bearish impression. But look what did happen next.

Very low volume range (3) below 0.2666. If this low activity was caused by lack of sellers (NS) - then we will get a confirmation from upbar with rising volume - DBar.

Here is it !(4). It confirmed the low-volume range #3 as the Zone where lack of sellers were found. Market changed its character (Cha Cha) into bullish mode again.

No Supply + Entering of Genuine demand around 2.0 level. 2$ and 2.2$ become the price of support.

The volume increased up to abnormal numbers. Ultra-high volume on up-wave/bars = sign of Hidden weakness where professionals fix profits from longs using the buying rush from ordinary public who was impressed by advance. “Oh, LINK is going to breakout above 3.0 and go to the Moon!” - they suggested. But…

As a result of FOMO, LINKUSD started down-move, which culminated in minor Panic Selling Bar around old support level $2.2.